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Murrieta council accepts FY26 first-quarter financial report and approves adjustments
Summary
City finance staff reported FY26 first-quarter revenues of just over $22 million, proposed $743,000 in expenditure adjustments and transfers to establish an approximately $7 million vehicle replacement fund; council approved staff recommendations unanimously, 5-0.
Finance Director Javier Carcamo and Finance Manager Jennifer Terry presented Murrieta’s fiscal year 2026 first-quarter financial status on Dec. 2, covering July 1–Sept. 30 activity and proposed budget adjustments.
Carcamo said the city collected just over $22 million in revenues through the first quarter, with licenses and permit fee revenue trending higher than anticipated (about $900,000 collected, roughly $480,000 more than the same period last year) driven primarily by residential permits for multifamily units. He noted sales tax collections were on pace with the budget and property tax receipts would be reflected in later quarters.
Carcamo explained a technical presentation item: capital/CIP timing can cause large percentage overages in line-item views because capital expenditures are reported differently than in prior years. The presentation said the city transferred approximately $7 million from sustainability reserves to create a vehicle replacement fund to centralize replacements and generate investment earnings for future acquisitions.
The proposed adjustments included roughly $743,000 in expenditure increases and approximately $728,000 in transfers; personnel adjustments proposed a net increase of about $88,000 primarily to convert a long‑term contracted temporary position in Building & Safety to full-time and to account for police overtime funding.
Jennifer Terry summarized unassigned fund balances and noted an estimated ending general fund unassigned balance of $32.1 million and Measure T balance of $16.2 million for a combined $48.9 million projected at year-end. Council members asked clarifying questions about transfers, sales-tax trends and reserve uses.
Councilmember Holliday moved to accept the staff recommendation to adopt the adjustments and the updated schedule of authorized positions. The motion passed unanimously, 5-0.
Ending: Staff will bring back year-end audited results in January and mid-year updates in March and will implement the approved adjustments.
